Big Mamma Group turnover exceeds £40m as profits grow ten-fold

Big Mamma Group has reported all of its London restaurants were “fully booked one month in advance” throughout 2023 in its latest financial results.

 

In its 2023 filings, the French-based collection of Italian restaurants founded by Victor Lugger and Tigrane Seydoux said its “strong brand presence on social media” contributed to the consistent backlog of bookings.

 

The group said: “Gloria, Circolo Popolare, Ave Mario, Jacuzzi and Carlotta all performed strongly in excess of expectations.”

 

This was supported by the fact that the company’s turnover exceeded £40m, up from just shy of £26m the previous year.

 

Profit before tax also jumped ten-fold to nearly £3.7m from £359,085 recorded in 2022, while gross profit margins grew to 72% in 2023, in contrast to 67.3% in 2022.

 

Big Mamma Group also increased the number of employees from 355 in 2022 to 536 in 2023.

 

It added: “The decision by the UK to leave Europe has affected the Group’s ability to source staff, food and beverage from Europe.”

 

In September last year, private equity firm McWin took a majority stake in the restaurant group in a deal that valued the company at €270m (£233m).

 

Big Mamma is due to open its first regional restaurant – La Bellezza – in Birmingham next month.